Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Legacy Capital Group California Inc.

Key Points

• Legacy Capital Group California Inc. increased its stake in Novo Nordisk A/S by 119.6%, owning 14,280 shares valued at approximately $992,000 at the end of the reporting period.
• Several institutional investors, including Nuveen Asset Management LLC and Marshall Wace LLP, significantly raised their holdings in Novo Nordisk A/S, reflecting growing confidence in the stock.
• Equities research analysts have downgraded Novo Nordisk A/S, with the stock currently holding an average rating of "Hold" and a price target of $93.67.

Legacy Capital Group California Inc. grew its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 119.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,280 shares of the company's stock after buying an additional 7,778 shares during the quarter. Legacy Capital Group California Inc.'s holdings in Novo Nordisk A/S were worth $992,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Wealthspire Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 101.0% in the 1st quarter. Wealthspire Advisors LLC now owns 25,884 shares of the company's stock valued at $1,797,000 after purchasing an additional 13,009 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Novo Nordisk A/S by 105.4% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,126 shares of the company's stock valued at $148,000 after purchasing an additional 1,091 shares in the last quarter. Encompass More Asset Management increased its holdings in shares of Novo Nordisk A/S by 22.6% in the 1st quarter. Encompass More Asset Management now owns 4,164 shares of the company's stock valued at $289,000 after purchasing an additional 767 shares in the last quarter. Cary Street Partners Financial LLC increased its holdings in shares of Novo Nordisk A/S by 9.0% in the 1st quarter. Cary Street Partners Financial LLC now owns 30,579 shares of the company's stock valued at $2,123,000 after purchasing an additional 2,527 shares in the last quarter. Finally, Accent Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 74.5% in the 1st quarter. Accent Capital Management LLC now owns 642 shares of the company's stock valued at $45,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 4.0%

Shares of NYSE:NVO traded down $1.91 during trading on Wednesday, reaching $45.31. The stock had a trading volume of 37,329,473 shares, compared to its average volume of 20,605,628. The business has a fifty day moving average price of $68.43 and a 200-day moving average price of $72.20. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The stock has a market cap of $202.31 billion, a P/E ratio of 13.41, a PEG ratio of 1.43 and a beta of 0.63. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.08. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. As a group, analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVO. Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday. BMO Capital Markets reaffirmed a "market perform" rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Novo Nordisk A/S has an average rating of "Hold" and a consensus target price of $93.67.

About Novo Nordisk A/S

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.